The commercial UAV market is growing as the consumer segment slows down. Industry forecasts show the commercial UAV market will overtake the consumer segment in the next few years. A report last year from The Teal Group predicted the industrial UAV grow in the next five years.
The Teal Group provides support for the FAA in the preparation of its commercial UAS forecasts. In an interview with Unmanned Air Space, Philip Finnegan, Teal Group’s director of corporate analysis had this take on the growth of the commercial UAV market:
“The growing promise of the civil market is attracting the world’s leading technology companies, driving ever faster development of systems and business applications. As potential corporate clients move from proof of concept work to deployment of fleets, the market will soar.”
#CES2020 Reflects Commercial UAV Growth
This year’s CES event is easily the most successful trade show ever for Digital Aerolus. Not only do we see huge crowds at CES with our UAV demonstrations, Aertos® 120, and 130IR UAVs demonstrations.
Digital Aerolus CEO Jeff Alholm expected uptake in interest at this show, but even he’s been surprised by CES this year:
“2019 was a breakthrough year for us; our commercial UAVs are gaining a reputation for flying indoors, inaccessible, and confined spaces. It’s a great time to be on the commercial side of the industry. What stands out to me are the industries and companies showing serious interest in our products.”
Forecasts for Drone Growth
According to an IDC forecast in September 2019, here’s where the fastest growth rate in drone spending will come from federal/national governments (63.4% CAGR), education (55.9%), and state/local governments (49.9% CAGR).
Here’s what the overall UAV market looked like in 2019:
- Consumer drones – $6.5 billion in 2020, representing 40% of the worldwide total.
- Utilities – $1.9 billion
- Construction – $1.4 billion
- Discrete manufacturing ($1.2 billion)
- Resource industries ($1.2 billion)